The biggest MMA-related business story in the industry is the UFC leaving ESPN to head to Paramount in 2026. The deal, announced in August, hit $1.1B mark over the next 7 years.
The deal hit the benchmark that White had set for a media deal. It also satisfied David Ellison as he was able to navigate the merger between Paramount and Skydance in July for $8 billion. Ellison, the son of Oracle’s Larry Ellison, wanted the UFC on Paramount as part of new strategy in sports.
While listening to TKO exec Mark Shapiro can be grating for the amount of corporate speak, he utilizes, it’s clear that the UFC is a huge part of Paramount’s new vision for its digital platform. The new deal ends the PPV model which now the company chides.
The move effectively ends the UFC PPV model and allows the company to air all of its content on Paramount. In an interview with CNBC extolling the significance of the deal, Mark Shaprio indicated that UFC numbered events (PPVs) would air on network television. Thus, the reach of the audience would be much larger than under a PPV model. The company also chided the PPV model stating it was “antiquated.”
In addition to the domestic rights for the UFC, it also will secure international rights as they become available. Also, Zuffa Boxing signed a separate deal with Paramount.
The UFC begins on Paramount on January 24th while Zuffa Boxing has a card (fights yet to be announced) on Friday, January 23rd.
Of course, there was an immediate increase in subscription prices with Ellison citing that the UFC provided value to its offerings.
While many in the industry lauded the acquisition, skeptics noted that the purchase price seemed steep.
Also it included money from Jared Kushner’s Saudi Fund. They have since exited the proposed deal.
Paramount’s bid for WBD is backed in part by
— Lauren Hirsch (@LaurenSHirsch) December 8, 2025
– $24bn from Middle Eastern sovereign wealth funds
– $1bn from China’s Tencent
– Jared Kushner’s private equity firm pic.twitter.com/Kdt94WevPc
Later in the year, Paramount attempted to secure Warner Brothers Discovery via hostile takeover. However, the board of directors for Warner Brothers Discovery sent a letter to shareholders which outlined why it was sticking to its current plan to be acquired by Netflix. In the letter, it noted that Paramount’s purchase of media rights for the UFC was overvalued.
We shall see how the UFC does with its new partner this year and if the change shows a burst in subscribers to the network.
Leave a Reply